{"id":2017874,"date":"2023-08-31T09:37:01","date_gmt":"2023-08-31T13:37:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-bostic-says-us-interest-rates-are-high-enough\/"},"modified":"2023-08-31T09:38:52","modified_gmt":"2023-08-31T13:38:52","slug":"feds-bostic-says-us-interest-rates-are-high-enough","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-bostic-says-us-interest-rates-are-high-enough\/","title":{"rendered":"Bostic: US Interest Rates Sufficient"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">10<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffeds-bostic-says-us-interest-rates-are-high-enough%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2017874&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Atlanta Federal Reserve Bank President Argues Against Further\u2062 Interest Rate Hikes<\/h2>\n<p>Atlanta Federal Reserve Bank President\u2063 Raphael Bostic made a compelling case on \u2063Thursday for halting any additional U.S.\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chair-no-interest-rate-hikes-until-inflation-spike\/\" title=\"Federal Reserve Chair: No interest rate hikes until inflation spike\">interest rate hikes<\/a>. In his speech at the\u2064 South African Reserve Bank\u2064 Biennial Conference in Cape Town, South Africa, Bostic emphasized that current monetary policy is already sufficiently restrictive to bring inflation back down to the desired 2 percent level within a reasonable timeframe.<\/p>\n<blockquote>\n<p>&#8220;I feel policy is\u200d appropriately restrictive,&#8221; Mr. Bostic stated. &#8220;We should exercise caution and patience, allowing \u2064the restrictive policy to continue\u200b influencing the economy. Otherwise, we risk tightening too much and causing unnecessary economic pain.&#8221;<\/p>\n<\/blockquote>\n<p>However, Bostic clarified that his stance\u2063 does not imply support for easing \u2064policy in the near future.<\/p>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\">\n<div class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/world\/falling-inflation-signals-another-possible-interest-rate-pause-for-september-5483896\">Falling Inflation Signals Possible Interest Rate Pause<\/a><\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/31\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/world\/falling-inflation-signals-another-possible-interest-rate-pause-for-september-5483896\"><\/a><\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/opinion\/michael-taube-if-the-feds-want-to-tackle-inflation-and-the-affordability-crisis-here-are-some-ideas-5481764\">Michael Taube: If\u2064 the Feds\u200d Want to Tackle\u200d Inflation and the Affordability Crisis, \u2064Here Are Some Ideas<\/a><\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/28\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/opinion\/michael-taube-if-the-feds-want-to-tackle-inflation-and-the-affordability-crisis-here-are-some-ideas-5481764\"><\/a><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p>During the upcoming meeting in less than three weeks, \u2062U.S. central bankers are widely expected to maintain the Fed&#8217;s policy rate within the current range of 5.25 percent\u20135.5 percent. However, financial markets \u2063are pricing in \u2063a nearly equal chance of the Fed raising the rate by another quarter of a percentage point by the end of the year. \u2062This expectation\u2063 is driven by persistently high inflation, stronger-than-expected economic growth, and a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-countries-that-escaped-poverty-by-promoting-capitalism\/\" title=\"5 Countries That Escaped Poverty By Promoting Capitalism\">low unemployment rate<\/a> of 3.5 percent.<\/p>\n<p>In mid-June, a \u2063majority of U.S. central bankers believed that a Fed policy rate between 5.5 percent and 5.75 percent\u200b would be necessary to effectively combat inflation.<\/p>\n<p>Contrary to this majority view, Mr. Bostic has consistently cautioned against excessively tight policy measures that could harm employment \u2062and livelihoods.<\/p>\n<p>Bostic highlighted the positive impact of the 5.25\u200b percentage points of\u2064 interest rate\u2063 hikes implemented since March 2022. These hikes have already contributed to a significant decline in inflation, with consumer price inflation dropping from a peak of 9 percent last summer to 3.2 percent in July.<\/p>\n<p>Furthermore, Bostic\u200c pointed out that the current housing services\u2064 inflation data does \u2062not yet reflect the decrease in rents, suggesting that the underlying pace of inflation may already be close to the target.<\/p>\n<p>Business surveys indicate that fewer firms plan to raise prices, and the \u2064percentage of items within the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-bostic-says-us-interest-rates-are-high-enough\/\" title=\"Bostic: US Interest Rates Sufficient\">consumer price index experiencing inflation \u200drates<\/a> of 5 percent \u2064or higher has decreased \u2064from \u200d80 percent to \u200d35 percent since last summer.<\/p>\n<p>Additionally, Mr. Bostic noted that the labor market is cooling, and\u2062 employers do not intend to increase prices to match higher wages.<\/p>\n<p>In conclusion, Bostic emphasized the importance of the Fed\u2063 remaining steadfast in its commitment to tight policy until it is evident that inflation is on track to reach the \u2063desired 2 percent\u2064 goal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Atlanta Federal Reserve Bank President Raphael Bostic argued against additional U.S. interest rate hikes, stating that current monetary policy is sufficiently tight to reduce inflation to 2 percent within a reasonable timeframe. Bostic believes that policy is suitably restrictive.<\/p>\n","protected":false},"author":66,"featured_media":2017875,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2017874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2017874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2017874"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2017874\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2017875"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2017874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2017874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2017874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}